B. Riley Initiates Coverage on AvePoint (NASDAQ:AVPT)

Key Points

• B. Riley has initiated coverage on AvePoint (NASDAQ:AVPT) with a buy rating and a price target of $25.00, signaling a potential upside of 60.09% from its previous close.
• AvePoint's stock currently has a consensus rating of "Moderate Buy" with an average target price of $20.80, as assessed by multiple analysts.
• Insider transactions revealed significant stock sales, with Director Jeff Epstein selling 500,000 shares for approximately $9.39 million, representing a 30.16% decrease in his stake.

B. Riley started coverage on shares of AvePoint (NASDAQ:AVPT - Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Several other research analysts also recently commented on the stock. Scotiabank lifted their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. The Goldman Sachs Group raised their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Jefferies Financial Group assumed coverage on shares of AvePoint in a report on Monday, July 21st. They issued a "buy" rating and a $22.00 price target on the stock. Finally, Citigroup dropped their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, AvePoint currently has an average rating of "Moderate Buy" and an average target price of $20.80.

AvePoint Stock Performance

AvePoint stock traded up $0.26 during mid-day trading on Tuesday, hitting $16.36. 1,702,038 shares of the company traded hands, compared to its average volume of 1,663,473. AvePoint has a one year low of $11.27 and a one year high of $20.25. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -327.13 and a beta of 1.35. The stock has a fifty day moving average price of $17.53 and a 200-day moving average price of $16.95.

Insiders Place Their Bets

In other news, Director Jeff Epstein sold 500,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total value of $9,385,000.00. Following the sale, the director directly owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the sale, the insider directly owned 1,155,443 shares in the company, valued at approximately $17,874,703.21. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 605,000 shares of company stock worth $11,220,400. Insiders own 26.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. M&T Bank Corp lifted its holdings in shares of AvePoint by 3.0% during the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after purchasing an additional 634 shares in the last quarter. ProShare Advisors LLC increased its position in AvePoint by 1.7% during the second quarter. ProShare Advisors LLC now owns 37,656 shares of the company's stock valued at $727,000 after acquiring an additional 638 shares during the last quarter. State of Wyoming increased its position in AvePoint by 3.0% during the first quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after acquiring an additional 780 shares during the last quarter. Advisors Asset Management Inc. increased its position in AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after acquiring an additional 919 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in AvePoint by 3.1% during the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after acquiring an additional 922 shares during the last quarter. 44.49% of the stock is owned by institutional investors.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.